Top Image Systems Continues to Demonstrate Traction for Its eFLOW® Extract Solution
February 13 2018 - 8:00AM
Top Image Systems Ltd. (NASDAQ:TISA), a global innovator of
intelligent content processing solutions, announced today that a
leading Japanese personal care company with subsidiaries worldwide
has selected eFLOW Extract, an accounts payable solution, to
automate the capture and processing of over 180,000 supplier
invoices annually.
The eFLOW Extract solution enables the accounts payable
department to reduce labor-intensive tasks associated with manual
invoice data entry and validation through implementation of
advanced, intelligent self-learning for invoice capture (i.e., data
lookup for master data, PO data, etc.), information delivered into
their current ERP system, and integration with their document
archival system—resulting in reduction of invoice processing
transaction costs by as much as 70%, and enabling the organization
to better utilize staff to address supplier enquiries and realize
higher returns with improved analysis of their suppliers.
“We are pleased with the momentum we are seeing for our accounts
payable solution globally. This transaction positions us for
accelerated growth of our eFLOW Extract solution in the Asia
Pacific and Japan regions, where the demand for automating accounts
payables is growing,” commented Brendan Reidy, CEO of Top Image
Systems.
About Top Image Systems Top Image Systems™
(TIS™) Ltd. is a global innovator of on-premise and cloud-based
applications that optimize content-driven business processes such
as procure to pay operations, remittance processing, integrated
receivables, customer response management and more. Whether
originating from mobile, electronic, paper or other sources, TIS
solutions automatically capture, process and deliver content across
enterprise applications, transforming information entering an
organization into useful and accessible electronic data, delivering
it directly and efficiently to the relevant business system or
person for action with as little manual handling as possible. TIS’
solutions are marketed in more than 40 countries through a
multi-tier network of distributors, system integrators, value-added
resellers and strategic partners. Visit the company's website
at https://www.topimagesystems.com/ for more information.
Top Image Systems Caution Concerning Forward-Looking
Statements Certain matters discussed in this news release
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results to be materially
different from any future results expressed or implied in those
forward looking statements. Words such as "will," "expects,"
"anticipates," "estimates," and words and terms of similar
substance in connection with any discussion of future operating or
financial performance identify forward-looking statements. These
statements are based on management's current expectations or
beliefs and are subject to a number of risks and uncertainties that
could cause actual results to differ materially including, but not
limited to, risks in product development, approval and introduction
plans and schedules, rapid technological change, customer
acceptance of new products, the impact of competitive products and
pricing, the lengthy sales cycle, proprietary rights of TIS and its
competitors, risk of operations in Israel, government regulation,
litigation, general economic conditions and other risk factors
detailed in the Company's most recent annual report on Form 20-F
and other subsequent filings with the United States Securities and
Exchange Commission. We are under no obligation to, and expressly
disclaim any obligation to, update or alter our forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contacts: TIS Company Contact:
Camille Womack, Director of Corporate Marketing and Investor
RelationsCamille.womack@topimagesystems.com (214) 256-4600
TIS Investors Contact:James Carbonara, Regional
Vice President, Hayden IRjames@haydenir.com + 1 646 755 7412
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